Accra, Ghana

GSE Feed

Forex Rate


Nigeria’s Buhari says will not allow state to be dismembered by secessionists


Nigeria’s President Muhammadu Buhari said on Sunday he would not allow the country to be dismembered as it faces calls for secession in a region formerly known as Biafra and the Niger Delta oil hub along with a separatist insurgency by Boko Haram. Nigeria is Africa’s most populous nation and has the continent’s largest economy but it has struggled for ...

Read More »

Inside South Africa’s olive oil industry


As world demand increases, South Africa is stepping up to the plate in meeting the shortage of quality, fresh olive oil. Olive oil is no longer simply used for cooking. Its many and varied uses, including its numerous health benefits, are increasingly known and enjoyed by foodies the world over. In South Africa, consumers are blessed with a choice of ...

Read More »

South Africa’s parliament cuts ties with auditor KPMG


South Africa’s parliament said on Wednesday it has terminated its contract with KPMG, citing reputational risks after the global auditor was caught up in a scandal involving business friends of President Jacob Zuma. Parliament said this termination includes a contract KPMG has a medical aid scheme for Members of Parliament. KPMG cleared out its South African leadership en masse this ...

Read More »

“Africa will become the food basket of the world” – Dangote


Nigerian business leader Aliko Dangote told investors Africa will become the food basket of the world.” In a packed room at the headquarters of global law firm Shearman and Sterling LLC  high-level business leaders and international diplomats invited by the Corporate Council for Africa to hear Africa’s richest man, Aliko Dangote, and Rwandan president Paul Kagame openly converse on Africa’s ...

Read More »

Nigeria central bank holds benchmark interest rate at 14%


Nigeria’s central bank held its benchmark interest rate at 14 percent on Tuesday, its governor said following a Monetary Policy Committee meeting. Fourteen of 15 economists polled by Reuters last week predicted rates would stay on hold while one forecast a 200 basis point cut. – Credit: CNBC Africa

Read More »

Nigeria asks Senate to amend law for govt to settle 2.7 TRN naira debt


Nigeria’s government has asked parliament to amend its spending law to enable a debt program to settle 2.7 trillion naira ($8.6 bln) worth of obligations including pensions and salary arrears, according to a letter from Vice President Yemi Osinbajo. The letter, read out in the Senate on Tuesday, requested amendments to the law, which stipulates allocation of government spending, to ...

Read More »

S.A: Fuel franchising continues to be resilient as economic indicators remain subdued


The South African fuel retail industry has grown considerably in recent years. In fact, it is one of the few sectors to weather the downgrading, rand volatility and negative growth rates recently experienced. Fuel retail specifically is a highly specialised sector, with operating margins that are affected by a multitude of factors such as oil prices, labour costs, exchange rates and regulations, to mention ...

Read More »

New Renault saloon brand hits Kenya’s showrooms


Auto dealer Simba has introduced the Renault Megane in the Kenyan market, targeted at customers looking for a compact saloon car. The model, priced at Sh4.4 million inclusive of Value Added Tax, has a 1.6-litre engine and an automatic transmission system. It has a GPS navigation system with Kenyan maps, keyless entry with walk-away auto-locking and welcome sequence and a ...

Read More »

Interest paid on Kenya’s debt increases by Sh56bn


The interest charged on Kenya’s public debt rose by Sh56 billion in the 2016/17 fiscal year compared to the previous period, with total interest payments gobbling up more than a third of the country’s annual revenue. Latest Treasury data from the 2017 Budget outlook and review paper (BROP) shows that the country spent Sh271.3 billion in interest payments, of which ...

Read More »

Kenya: Director opposes proposed Tuskys, Nakumatt merger


Yusuf Mugweru, the fourth born of seven siblings who own Tuskys Supermarkets, has opposed a proposed merger of the retail with struggling Nakumatt in a move that could scuttle the deal that was announced last week. Mr Mugweru claims that his siblings sidelined him in ongoing negotiations with Nakumatt, and that he is yet to receive any information on the ...

Read More »
Ghana Business News